My last article summarized the basics of construction-to-permanent financing with more emphasis on the underwriting portion of the process. In this article, I will discuss the following two phases. After a C/P loan has been underwritten, approved and closed prior to breaking ground, construction may begin. Once that part is complete, the “permanent” phase may […]
A popular mortgage to obtain before the Great Recession was construction-to-permanent financing. Not only was it a common loan, but it was also easy to get. Also known as one-time close construction loans, these have become obscure today due to the inherent risks a lender must take to issue these types of mortgages — the […]
Construction cooled down after the real-estate bubble popped in 2008, but the industry can feel it starting to warm.
Some songs will make “you wanna build a 10 percent down white picket-fence house on this dirt.” But Florida Mortgage Firm is singing a different tune. We offer VA construction loans and FHA construction loans with a much lower down payment. If you’re going to build a home south of the Florida-Georgia line, you’ll want to learn […]